Winsted-Lester Prairie Journal, January 26,
1998

Lester TIF dollars to be split

It's going to be an equal, three way split . . . of the
property tax dollars, that is.

Tuesday night, council member Galen Hochstein explained
to the Lester Prairie School Board how the city's Tax Increment Financing
District (TIF) will affect the school district.

As part of an incentive package to Formative Engineering
Corporation, the city has agreed to set up a TIF district. The TIF district
gives the city a set amount of dollars with which to pay back bonds.

Formative plans to build a new facility either near its
present site or at the north corner of Central Ave. and Co. Rd. 9.

The bonds are sold to finance items such as sewer and water.
None of the money can go towards a new building.

When the TIF is established, for up to eight years Formative's
property tax money will be divided equally between the city, school district,
and county.

Initially, the school district probably will not get as
much tax money as if Formative were not located in the TIF. The school board
concurred that losing some tax money in the short term would be outweighed
in the long term by having Formative in the city.

On a motion by Murl Kletscher, the board passed a resolution
supporting the creation of any TIF in the city.

Snowmobiles

The board agreed to post "No Snowmobiling" signs
on the entire playground.

Board member Gene Starke dissented, stating he felt students
should not be allowed to ride snowmobiles to school at all.

Joe Miller, dean of students, said some adults do ride
snowmobiles to after school activities.

There was some talk with new board member Fred Blaser about
the snowmobile ordinance and if snowmobiles were allowed to be ridden in
the area of the school. Blaser said he would look over the ordinance and
get back to the board.